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Property Management Alert: Tenant screenings or background checks

As a Murfreesboro Property Management Company committed to helping clients reduce risk, a study of landlords who don’t conduct tenant screenings or background checks is a great concern.

A survey conducted by Liminality, Inc., an independent research firm, revealed that do-it-yourself landlords tend to be more relaxed about tenant screenings and background checks, if they conduct them at all. This increases the chances of criminals—including those who may pose a threat to neighbors—being placed in a rental home.

In fact, 21% of those surveyed said that they “sometimes or never” conduct background checks on a prospective renter.  These DIY landlords also reported these patterns:

  • Only 44% check for a previous sex offender
  • Only 51% pull a criminal background check
  • 23% “sometimes or never” require credit checks
  • Only 51% call previous rental references

Why are tenant screenings such an important part of property management in Tennessee?

Those with a criminal background have a higher risk of committing future crimes, which puts neighbors at risk. The Bureau of Justice reported in 2014 that 76.6% of prisoners released in 2005 were re-arrested within five years. A criminal background check helps reduce risk for both the landlord and the surrounding neighborhood.

Real Property Management Rental Solutions is rigorous in background screenings for this very reason. Strict policies are in place to ensure all tenants complete a thorough application and consent to a full background check, including credit history, employment, previous rental history, and criminal and sex offender checks. These checks are conducted in strict compliance with local, state and federal regulations.

“Not conducting background checks on your prospective tenant is putting your expensive property investment at risk,” warns Hugh Jones, of Real Property Management Rental Solutions, based in Murfreesboro, TN. “It could also compromise the well-being of your neighbors. The bottom line is if local DIY landlords don’t have the time or resources to screen tenants, they should consult a Middle Tennessee property management company that can do it for them.”

Your Real Property Management Rental Solutions team includes thorough tenant screening qualification as just one of many aspects of our complete leasing process. The goal is to reduce risk for the property owner while minimizing costs and maximizing cash flow on your rental property. If you have questions about conducting more thorough tenant background checks on your prospective renters, contact us at 615-900-4067.

 

About Real Property Management Rental Solutions

Backed by more than 25 years of experience, Real Property Management Rental Solutions is the leading residential property management provider in Middle Tennessee, providing professional management for single and multi-family properties on behalf of homeowners, investors and institutions throughout the area.